$300 million: Blockchain Capital raises new fund with backing from PayPal and Visa
June 22, 2021, 3:39PM EDT
1 min read
Blockchain Capital, the long-running VC firm focused on the crypto space, has closed a new fund with $300 million in backing.
In a Tuesday statement, Blockchain Capital described the raise as "heavily oversubscribed" and backed by "strategic investors, pension funds, major university endowments and family offices from around the world."
Among the backers named were Visa and PayPal, two payments giants which have increased their footprint in the crypto industry in recent months. These actions include taking stakes in companies across the space.
"Select investors in Fund V will be participating in Blockchain Capital's strategic partnership program – including PayPal and Visa. Blockchain Capital is able to leverage its industry-leading network, research capabilities and industry contacts to benefit these payments companies as well as Blockchain Capital's portfolio companies," Blockchain Capital said.
Indeed, PayPal signalled that its participation in the fund would help it strengthen those inroads.
"Investing in Blockchain Capital's new fund allows us to engage with the entrepreneurs driving the future of the decentralized economy and the new wave of financial services," Jose Fernandez da Ponte, PayPal's VP for crypto, said in a statement.
Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency.
The Canadian Securities Administrators, an umbrella group for securities regulators in the country, alongside a self-regulatory organization for the investment industry, has released new guidance for crypto exchanges on the use of social media as well as advertising and marketing.
LMAX Group robust technology and familiar institutional grade trading infrastructure (currently processing over 2 billion orders per day in the global FX market) is the solid backbone of LMAX Digital, delivering access to deep institutional liquidity, transparent price discovery, a regulated trading environment and a full custodian trading solution.